Redeye - Continued strong performance from Hexatronic

Hexatronic continues its strong performance in Q4, exceeding our expectations. The company reported revenue of 140 MSEK and EBIT of 15 MSEK, compared to our estimate of 105 MSEK and 8 MSEK, respectively. The company has within a year gone from a turnover level of about 70 MSEK to almost 500 MSEK, with improved profitability. We continue to see good growth prospects going forward. We have adjusted our estimate of future CAPEX and future net working capital levels. Our fair value estimate for the company is marginally revised upwards. We find that the share has a potential upside of 34 % to our estimated value. Naturally we also goes through our bull and bear cases in our PDF-analysis.

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